AS-China-Earthquake 02-13 Web

$710 million OK’d for Sichuan

The World Bank said today it will provide a $710 million loan to China to help rebuild areas hit by last year’s devastating earthquake.

The magnitude 7.9 quake centered in Sichuan province was China’s worst in a generation, leaving almost 90,000 people dead or missing and another 5 million homeless. China suffered $123 billion in direct economic losses.

The money will finance infrastructure, health and education projects in western Gansu and Sichuan provinces, the bank said in a statement.

"This project will assist many communities affected by the devastating earthquake to rebuild their lives by restoring essential services," project manager Mara Warwick said in the statement.

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